Central Bank gives Zain Iraq licence service via mobile phone
December 31, 2015 Economy/Baghdad

The CBI agreed Thursday to launch electronic payment service via Zain mobile phone step is the first of its kind in Iraq, and pointed to Zain that service will enable subscriber conversion and receipt of funds inside Iraq and paying bills fees, confirmed that the service will be subject to the supervision of the Central Bank of Iraq.

Zain said in a statement received ours newsletter copy, "Zain Iraq is a leading mobile communications and data transfer Announces Service (Zain cash) on its network in cooperation with portfolio Iraq (Iraq Wallet) specialized in electronic financial services after receiving formal authorization from the Central Bank of Iraq to provide electronic payment services.

The statement added that "service (Zen cash) will enable the Subscriber registered in the service of transfer and receipt of funds inside Iraq and across Zain Iraq, returned the first service of its kind in Iraq."

The statement stressed that "these important and evolving service do use the mobile phone as a" mobile portfolio will shunt him, pointing out that "the service will allow subscribers to perform financial transactions such as sending and receipt of funds inside Iraq, or recharge the phone lines and billing on the Zain network at any time and a quick and easy way.

The statement noted that "the service designed by a dedicated team of local and global partners are part of the technological development that accompanies the post a third generation in Iraq, to meet common needs and give them the freedom and opportunity to facilitate day-to-day transactions wherever", stating that "the service provided where large amount of ease and maintain funds in a safe manner as other markets."

The statement said that "the company created and trained many of its customer service center, agents and outlets and many points of sale (Zain cash) which reach more than 21000 points as planned in order to meet the requirements of its customers with this service, the registry service would be free by going to the nearest authorized service or call (* 210 #) and follow the instructions or send word (recording) by letter to the number 2100.

The statement drew attention to the "service (Zen cash) will enable the participants to pay bills such as electricity bills and pay traffic fines fees easily," he said, adding that "those in the final stages of the application of these services on their systems and open new horizons."

The statement stressed that "the new service will enable companies also pay and payroll safely and effectively in Iraq," pointing out that "service has been announced to companies and contractors with Zain Iraq, and will be subject to global systems and protocols.

The statement noted that "the service will be subject to the control of the Iraqi Central Bank which identified operational and administrative regulatory frameworks for these services from the Iraqi Central Bank target for the year to such laws and regulations in line with international standards, and to strive to promote confidence in the economy by creating a safe environment and a sound and competitive system available to everyone and this was confirmed by the Central Bank of Iraq on several occasions.

The statement stressed that "the (Zain cash) will be subject to all the procedures for safe financial transactions in all the countries of the world, and give users secure and easy money transfer and delivered anywhere in Iraq and just a few moments, under the supervision of the team and the coach."